Youon(SH:603776)2019-04-28 16:00Financial Performance - In 2018, the company's operating revenue was approximately CNY 844.99 million, a decrease of 19.87% compared to CNY 1,054.53 million in 2017[24]. - The net profit attributable to shareholders was CNY 119.35 million, reflecting a significant decline of 76.89% from CNY 516.45 million in the previous year[24]. - The basic earnings per share (EPS) for 2018 was CNY 0.89, down 76.82% from CNY 3.84 in 2017[24]. - The weighted average return on equity (ROE) decreased to 7.19%, down 44.81 percentage points from 52.00% in 2017[24]. - The net cash flow from operating activities was CNY 296.88 million, a decrease of 13.10% compared to CNY 341.63 million in 2017[24]. - The total assets at the end of 2018 were approximately CNY 2.55 billion, an increase of 1.44% from CNY 2.51 billion at the end of 2017[24]. - The net assets attributable to shareholders increased by 1.33% to CNY 1.66 billion at the end of 2018, compared to CNY 1.64 billion at the end of 2017[24]. - The company reported a net profit excluding non-recurring gains and losses of CNY 111.49 million, down 8.70% from CNY 122.10 million in 2017[24]. - The company reported a total revenue of 844,992,888.45 yuan in 2018, a decrease of 19.87% year-on-year[59]. - The net profit attributable to shareholders was 11,935.22 million yuan, down 76.89% year-on-year[59]. Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 2.70 per 10 shares, totaling RMB 35,896,500, and to increase its share capital by 53,180,000 shares through capital reserve conversion, raising total shares to 187,580,000[5]. - The cash dividend distribution for 2018 represents 30.08% of the net profit attributable to ordinary shareholders in the consolidated financial statements[109]. - The total cash dividend amount for 2018, including share buybacks, is RMB 30,631,610.96, which accounts for 55.75% of the net profit attributable to ordinary shareholders[110]. - The company plans to repurchase shares at a price not exceeding 30% of the previous year's audited net profit attributable to shareholders[114]. - The controlling shareholder will increase their stake in the company within 5 trading days after the shareholder meeting approves the specific plan to stabilize the stock price[115]. Business Operations and Strategy - The company is involved in the shared mobility industry, which includes various transportation services such as public transport and bike-sharing[13]. - The company is focused on expanding its public bicycle system and enhancing its smart parking solutions[24]. - The company continues to explore new technologies and products to improve operational efficiency and user experience[24]. - The company’s main business involves the development, sales, and operation of shared mobility systems based on IoT and big data analysis technologies[32]. - The shared mobility platform generates revenue by providing shared transportation tools at fixed points and charging consumers through the Yong'an APP[33]. - The company is focusing on expanding its shared mobility platform while controlling low-margin, high-risk bicycle manufacturing operations[54]. - The company has successfully completed the technical integration of traditional public bicycles with new-generation services, enhancing user convenience and increasing revenue growth[44]. Market Trends and Challenges - The market for shared mobility is expected to grow significantly, driven by the increasing demand for shared bicycles, electric vehicles, and other transportation options[37]. - The shared bicycle market is experiencing a decline due to stricter government regulations and the natural attrition of unmanaged bikes, leading to a consolidation in the industry[38]. - Shared cars are becoming increasingly popular among young consumers, indicating a potential growth trend in this segment despite the challenges faced by some companies in the market[39]. - The company faces risks related to government support for public transportation, which could impact market capacity and profitability[96]. - The company anticipates potential fluctuations in gross profit margin due to the maturity of the public bicycle market and the impact of large project negotiations[100]. Research and Development - In 2018, the company's R&D investment accounted for 5.27% of sales revenue, with a new R&D center established in Chengdu[55]. - The company plans to invest at least 5% of sales revenue in R&D, with a goal of filing no less than 50 invention patents[94]. - The company has a total of 438 R&D personnel, indicating a strong focus on research and development[184]. Financial Management and Investments - The company has invested a total of CNY 75 million in bank wealth management products using raised funds, with no overdue amounts[141]. - The company has also invested CNY 160 million in bank wealth management products using its own funds, with no overdue amounts[141]. - The annualized return on the bank wealth management products was 4.85%, with a total income of CNY 2,720,650.68 already recovered[144]. - The company has a total of CNY 10 million in wealth management products from China Bank, with an annualized return of 3.20% and total income of CNY 31,561.64 already recovered[144]. Corporate Governance - The company’s governance structure complies with relevant laws and regulations, ensuring the protection of shareholder interests[191]. - The company held multiple shareholder meetings in 2018, all of which were conducted in accordance with legal requirements[192]. - The board of directors held a total of 7 meetings during the year, all conducted via communication methods[194]. - Independent directors did not raise any objections regarding company matters during the reporting period[195]. Legal and Compliance - The company has appointed Deloitte Touche Tohmatsu CPA Ltd. as its auditor for the 2018 financial year, with an audit fee of CNY 1,272,000[128]. - The company is currently involved in a significant lawsuit regarding patent infringement, with the case concluded by the Jiangsu Provincial High People's Court[130]. - The company has no major litigation or arbitration matters pending or disclosed in temporary announcements[131]. - The company maintained compliance with environmental regulations, ensuring no penalties were incurred during the reporting period[148]. Employee and Management Structure - The total number of employees in the parent company was 3,770, while the total number of employees in the parent company and major subsidiaries was 5,405[184]. - The company has a diverse management team with significant experience in various sectors, including technology and finance, enhancing its strategic decision-making capabilities[175]. - The total pre-tax remuneration for the reporting period amounted to 180.12 million yuan, with the highest individual remuneration being 44.07 million yuan for the Vice General Manager[173].